Kalyan Jewellers to invest Rs. 1,800 cr on expansion by FY17.

Kalyan Jewellers is planning to invest up to Rs. 1,800 crore by FY2016-17 to expand its footprint across the country, while it targets 30 per cent sales growth at Rs. 13,000 crore this year.

'We plan to invest up to Rs. 1,800 crore to expand into new cities by next financial year to increase our sales network. We are looking at 30 per cent increase in revenue at Rs. 13,000 crore this year as against Rs. 10,000 crore last year,' Kalyan Jewellers Chairman and Managing Director S Kalyanaraman told PTI.

The Kerala-based company is also looking at foraying into the online space with its own portal, while it continues to expand its retail footprint in the country.

'We are going to enter into the online space with own portal this year. It is a growing segment,' he added.

BS